NAB Business Confidence comes in at -8, down from -6

Australia’s NAB Business Confidence index was released today, showing a reading of -8. This figure represents a decline from the previous period’s -6. The release did not include a consensus forecast for comparison.

Following the release, the Australian Dollar experienced a mixed reaction across major pairs. AUDCAD moved -7.3 pips one hour after the release, which is comparable to its median 1-hour move of 6 pips after past releases. AUDCHF moved -4.1 pips in the hour, a smaller move compared to its median 1-hour move of 5 pips. AUDJPY saw a larger move of -43 pips one hour out, significantly exceeding its median 1-hour move of 9 pips. AUDNZD moved +7.0 pips after one hour, close to its median 1-hour move of 6 pips. AUDUSD moved -7.4 pips in the hour, also close to its median 1-hour move of 7 pips. Against the Euro, EURAUD moved +12 pips one hour after the release, which is comparable to its median 1-hour move of 11 pips. GBPAUD moved +9.6 pips in the hour, a smaller move compared to its median 1-hour move of 12 pips.